More than 40 Chinese insurance companies and asset managers have jointly started an investment firm, raising 40 billion yuan (US$6 billion) for a first fund to finance energy and infrastructure projects overseas, China's insurance regulator said.
The new firm, China Insurance Investment Ltd, will boost China's energy security by directing part of its first fund to finance Russia's US$27 billion Yamal liquefied natural gas (LNG) project, the China Insurance Regulatory Commission (CIRC) said in an online statement on Monday, without providing any details.
Yamal LNG, due to start production of LNG in 2017, should consist of three lines with a capacity of 5.5 million tonnes a year each.
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The new firm, China Insurance Investment Ltd, will boost China's energy security by directing part of its first fund to finance Russia's US$27 billion Yamal liquefied natural gas (LNG) project, the China Insurance Regulatory Commission (CIRC) said in an online statement on Monday, without providing any details.
Yamal LNG, due to start production of LNG in 2017, should consist of three lines with a capacity of 5.5 million tonnes a year each.
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